Fed Repaid JPMorgan $87 Billion for Lehman Financing - Markets * US * News * Story - CNBC.com
"Lehman and the New York Fed had requested the advance, known as a "commencement date advance" and the New York Fed repaid it, according to filings. In effect, the New York Fed lent Lehman the funds."
I'm not sure I understand this, but it sure sounds like the Fed paid $87 bil to help facilitate the sale of Lehman. How is this different than a bailout, I guess besides the fact that Lehman won't be around anymore? Whether the Fed paid to bail them out or "help underpin trades," they still spent the money.